No, the data should be updating automatically when changed in the database.
If the data in the chart is not reflecting the changes you are making in the database, I would suspect that either the changes in the database are not being saved, or the database that the chart is connecting to is not the same database you are editing.
after changing the data in the chart, close the database program, then open it again to double check that the changes are saved.
are you testing the chart locally or on the remote server?
Are you using Access or MS SQL?